TransAlta Co. (NYSE:TAC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its holdings in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 914,238 shares of the utilities provider’s stock after selling 45,222 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.31% of TransAlta worth $9,487,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TAC. Financial Management Professionals Inc. acquired a new stake in shares of TransAlta during the third quarter valued at approximately $42,000. Blue Trust Inc. lifted its holdings in TransAlta by 1,381.5% in the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 3,951 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in shares of TransAlta in the second quarter worth $72,000. Sage Rhino Capital LLC acquired a new position in TransAlta in the 2nd quarter valued at $79,000. Finally, Entropy Technologies LP bought a new position in TransAlta in the 3rd quarter worth $130,000. 59.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TAC has been the subject of several research reports. StockNews.com cut TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th. Desjardins reissued a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th. Finally, Scotiabank upgraded shares of TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th.

TransAlta Price Performance

NYSE:TAC opened at $13.04 on Tuesday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74. The company has a 50-day moving average of $10.67 and a 200-day moving average of $8.92. TransAlta Co. has a 52 week low of $5.94 and a 52 week high of $13.97. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 35.23 and a beta of 0.91.

TransAlta Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be given a $0.044 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a yield of 1.35%. TransAlta’s dividend payout ratio (DPR) is presently 48.65%.

TransAlta Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.